Nigerian Exchange Limited (“NGX”), the sustainable exchange, championing the development of Africa’s largest economy, has announced the outcome of its Half-Year 2025 review of its market indices following a comprehensive assessment of constituent companies across key market benchmarks.
The review covers the NGX 30 Index, NGX Lotus Islamic Index, NGX Pension Index, NGX Pension Broad Index, Corporate Governance Index, Afrinvest Bank Value Index, Afrinvest Dividend Yield Index, Meristem Growth Index, Meristem Value Index, as well as NGX’s sectoral indices comprising the NGX Banking, NGX Insurance, NGX Industrial, NGX Consumer Goods and NGX Oil & Gas Indices. The changes reflect the application of the Exchange’s prescribed index methodology and periodic rebalancing process.
The updated constituent changes took effect at the opening of trading on Tuesday, 1 July 2025, with new companies admitted into selected indices and others removed following the review process.
| Indices Title | Incoming | Exiting |
| NGX 30 Index | NASCON Allied Industries PlcUnilever Nigeria Plc | Oando PlcTransnational Corporation Plc |
| NGX Consumer Goods Index | None | None |
| NGX Banking Index | None | None |
| NGX Insurance Index | None | None |
| NGX Industrial Index | None | None |
| NGX Oil & Gas Index | None | None |
| NGX Pension Index | None | None |
| NGX Lotus Islamic Index | Nestle Nigeria PlcCadbury Nigeria Plc | NASCON Allied Industries Plc |
| NGX Pension Broad Index | None | None |
| Afrinvest Bank Value Index | Stanbic IBTC Holdings Plc | None |
| Afrinvest Div Yield Index | Seplat Energy PlcFidelity Bank PlcStanbic IBTC Holdings PlcCustodian Investment PlcNigerian Aviation Handling Company Plc | Access Holdings Plc |
| Meristem Growth Index | Eterna PlcPZ Cussons Nigeria Plc | BUA Cement PlcGuaranty Trust Holding Company PlcAXA Mansard Insurance PlcNigerian Aviation Handling Company PlcNASCON Allied Industries PlcOkomu Oil Palm Company PlcLafarge Africa PlcWema Bank Plc |
| Meristem Value Index | Chemical and Allied Products PlcHoneywell Flour Mills PlcDangote Cement PlcLinkage Assurance PlcLivestock Feeds PlcNASCON Allied Industries PlcOkomu Oil Palm Company PlcTotalEnergies Marketing Nigeria Plc | Ecobank Transnational IncorporatedGuinness Nigeria PlcZenith Bank Plc |
The semi-annual review reinforces NGX’s commitment to maintaining transparent, investable and representative benchmarks that accurately reflect prevailing market conditions. The indices serve as important tools for investors, asset managers and other market participants in tracking performance, evaluating investment opportunities and benchmarking portfolio returns.
Designed using the market capitalisation methodology, NGX indices are reviewed semi-annually on the first business day of January and July to ensure they remain aligned with evolving market dynamics and international best practices. The Exchange also reserves the right to make further adjustments where necessary in the event of mergers, acquisitions, trading suspensions, resumptions or other corporate actions prior to the effective date of an index rev
